The unemployment rate in the Philippines in January 2023 was estimated at 4.8%, translating to 2.37 million unemployed Filipinos. This estimated rate is lower than the unemployment rate reported in the same month in 2022 at 6.4%, according to the Philippine Statistics Authority.

The 4.8% rate was higher than the rate seen in December 2023 (4.3%). According to BusinessWorld, the rate rose amid the loss of temporary holiday jobs.

Meanwhile, the country’s employment rate was registered at 95.2% in January 2023, an increase from the 93.6% in January 2022. In terms of magnitude, employed persons increased by 4.09 million in January 2023 estimated at 47.35 million from 43.27 million in January 2022. 

By broad industry group, the services sector continued to account for the largest share of employed people with 60.7% of the total employed people in January 2023. The agriculture sector and industry sectors accounted for 22.2% and 17.1% of the total employed persons, respectively.

The wholesale and retail trade, repair of motor vehicles and motorcycles industry saw the biggest year-on-year increase in the number of employed persons (1.53 million). On the other hand, the construction sector exhibited the steepest drop in the number of employed persons from January 2022 to January 2023 (-334,000).

Wage and salary workers contributed the largest share of employed persons with 62.3% in January 2023. This was followed by self-employed persons without any paid employee at 27.1% and unpaid family workers at 8.1%. Employer in own family-operated farm or business has the lowest share at 2.6%.

The labour force participation rate increased to 64.5% in January 2023, equivalent to 49.72 million Filipinos in the labour force. The reported rate in January 2023 was higher than the reported LFPR in January 2022 (60.5%).

Meanwhile, the average weekly hours worked by an employed person in January 2023 was estimated at 39.5 hours, from 41.8 hours per week in January 2022.